Research methods Flashcards
marketing research=
information gathered from the market for specific of decision making
market research planning
links to the idea that marketing research is done with a plan and according to an objective, not just done for the sake of it
the planning diagram: information required
(a statement) the information you need to satisfy the marketing research objective
the planning diagram: methodology
(a wide range) choose the methodology that provides the information that satisfies the objective
the planning diagram: timing
deadlines and schedules are important, timing can sometimes influence methodologies
the planning diagram: decision
a series of statements (if the research reveals A we will do X), this is a test of the entire plan, a good way of testing the precision of the data needed
the Three dimensions of marketing research types
desk vs. field
Ad hoc vs. off the peg
quantitative vs. qualitative
desk research=
also called secondary research, sometimes categorised as a specific type of ‘off the peg’ research.
information requirements are satisfied, or partly satisfied, from open/published sources (already exists)
typical sources of desk research
government statistics; newspapers, magazines, TV, radio (e..g NEXUS); Trade press (magazines specific to particular industries); academic research
advantages of desk research
fast, cheap, large sample or even census
disadvantages of desk research
not confidential, may not be exactly what you required, may be old/out of date, source may be unreliable
field research=
also called primary research. obtained direct from the market: surveys, observations, experimentation, focus groups.
you create the information yourself rather than relying on somebody else’s research
advantages of field research
greater confidentiality: may learn something competitors don’t know; exactly what you require; up to date (as much as the methodology allows)
disadvantages of field research
slower and more expensive; need to reduce sample size and research scope to make faster and cheaper, or reduce number fo objectives
Desk and Field research
marketers may simultaneously or sequentially use both techniques in advanced, complex marketing (desk then field)
Ad Hoc methodology
sometimes called ‘tailor made research’.
research carried out for the specific demands of one client, for a specific purpose. everything done step by step
advantages of Ad Hoc research
confidential: competitors don’t have your data; specific: exactly what you require
disadvantages of Ad Hoc research
slow: research doesn’t start till objective is defined; expensive: you pay the whole cost; reduce sample and limit scope to make it faster and cheaper
‘Off the Peg’
also called continuous or syndicated research, sometimes classified as secondary research (a specific type of desk research).
Data is collected continuously by specialist market research agencies, who then look for customers
‘off the peg’ sources available
Euromonitor passport; key note; ABI; EBSCO Business source; Nexis
advantages of ‘off the peg’ research
fast: basically waiting to be bought; extremely up to date (a key distinction between desk and ‘off the peg’ research; cheap, larger sample, wider scope: costs spread over many buyers; longitudinal analysis
disadvantages of ‘off the peg’ research
not confidential; may not be specific to your objectives: fairly general data collected so that research agency is able to sell it to a wide range of customers
quantitative marketing research
numbers of customers
qualitative marketing research
things unable to be expressed in numbers (e.g. why does the customer buy this product?)
Quantitative sample
large
